LOS ANGELES (Variety.com) - In the latest fallout from the Harvey Weinstein sexual assault scandal, Channing Tatum is ditching his film adaptation of "Forgive Me, Leonard Peacock" at the Weinstein Company.

The actor and producer announced Wednesday in a statement with producing partner Reid Carolin that they are halting development on the adaptation of Matthew Quick's 2013 novel -- which focuses on a teenager who plans to kill his best friend and then himself following experiences of sexual abuse. The pic would have marked their co-directorial debut. Tatum also said he's cutting ties with TWC, which has fired Weinstein and kicked him off its board in the wake of the far-reaching controversy.

Tatum posted the statement on his social media pages. He credited the women who have stepped forward since the scandal erupted on Oct. 5 following the publication of an explosive New York Times story.

"The brave women who had the courage to stand up and speak their truth about Harvey Weinstein are true heroes to us," read the statement. "They are lifting the heavy bricks to build the equitable world we all deserve to live in."

"Our lone project in development with TWC -- Matthew Quick's brilliant book, 'Forgive Me, Leonard Peacock' -- is a story about a boy whose life was torn asunder by sexual abuse," he said.

Channing Tatum. Image: Getty

"While we will no longer develop it or anything else that is property of TWC, we are reminded of its powerful message of healing in the wake of tragedy. This is a giant opportunity for real positive change that we proudly commit ourselves to. The truth is out -- let's finish what our incredible colleagues started and eliminate abuse from our creative culture once and for all."

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